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20121005
20121005
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CNBC 5
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CNBC
Oct 5, 2012 1:00pm EDT
warning those workers. here's the federal law and what it says. it says that companies with 100 or more workers must provide 60 days notice before mass layoffs or plant closings, or those workers can get up to 60 days of back pay if they are not notified. the republicans are crying foul and eamon javers picks under the story. >> reporter: here's what the omb said in late september -- it is neither necessary or appropriate for federal contractors to provide warn act notice to employees 60 days in advance of the potential sequestration because of the uncertainty about whether sequestration will occur. i've toualked to employees at t white house and omb about this question. their idea is this -- first of all, there's uncertainty about the fiscal cliff itself, whether it is actually going to happen or not. they say that the warn act is only required for those planning specific cutbacks and specific plant closings and they say since the employers in this case federal contractors don't know that sequestration is going to happen, therefore they don't have any specific information. and also the
CNBC
Oct 5, 2012 12:00pm EDT
a jobs on another front. some republicans say the white house is bending labor laws for votes. senator john mccain is with us live. we'll talk about that and more with the last time presidential candidate on the gop side and the age old debate wall street bankers are they overpaid and are more cuts ahead. we got that and more top of the hour, jobs. >> sounds great. not often a finance minister is laughed at when tlifrg a speech but that's exactly what happened to spain's finance minister when he told a crowd in london that his country doesn't need a bailout. he was speaking to students at london school of economics and they chuckled at that. nevertheless the euro moving above 1.35 versus u.s. dollar. boris, good to see you. what do you make of the situation with the euro, with merkel going to greece next week, walking in to the lion's den. messy day. >> yes. but i think ultimately what you have to take away from this week is when draghi came out and said don't mess with me. basically there's a coalescing of ideas in the eurozone now around the ont and esm where most of the european key
CNBC
Oct 5, 2012 4:00pm EDT
they're in blatant violation of the law. i wouldn't put anything past this administration. >> by the way, the w.a.r.n. act he refers to requires businesses to tell employees about potential layoffs 60 days in advance. here with reangction, former lar secretary elaine chow. thanks very much for joining us. you were the labor secretary. you had the national butreau of labor statistics under you. what do you think about this possibility of a conspiracy? >> when i was at the department of labor, i think the bureau of labor statistics was very professional. they did a very good job. i don't know what's happening now. i can't speak to that. but the fact that this administration has delayed the issuance of these legally mandated layoff notices is astounding. that has never happened before. under the law, any employer, including the government, is supposed to notify the workers 60 days prior to termination that they are indeed going to be facing termination. so for this administration to unilaterally issue a direct order to not issue it is quite astounding. >> if we could go back
CNBC
Oct 5, 2012 6:00pm EDT
to know. this is supposed to make people a lot of moo law. the only one problem, it doesn't. i call these kind of patterns love blankets. something to make you feel more secure. even as it's nothing more than a piece of clothe. like my baby when i was going out. give you comfort when there is no reason for it. nothing but a lovie blanket. check that. that's when the quarterback considers whom he should pass the ball to. >> hmm. >> i'm going to keep the ball myself. >> wow. >> ludicrous. okay. oops. here we go. ball, i'll just hold it. new york style and old london. here it is. always old london. a brand i know. american staples, particularly in the cramer house. i love this. i always have this. i have these in my closet. >> bagel crisps, and melba toast, which is what i feel like right now. greatest brand. j.j. flats, i'm j.j.c., these should be mine. i love these. >> i love melba toast. cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great nor
CNBC
Oct 5, 2012 6:00am EDT
. the current law doesn't do very much explicitly about health care costs. eventually somebody will have to reduce the volume of services or reduce the price of services. >> so what are you telling investors, buy hospital stocks, don't buy hospital stocks, by the good ones? how do the insurance companies fair? >> insurance companies win almost no matter what happens. so that's fine. >> there's medicaid advantage. >> right, medicaid, medicare. >> is there a head k medicaid advantage? >> medicaid hmos lose it if obamacare gets repealed because they're going to expand medicaid, as well. >> expand it greatly. and it's not block grants. a federal expansion. so what's your favorite stocks? >> my favorite stocks are the ones that are not that impacted by federal policy. united health, intuitive surgical. genetic analysis companies do well. but not completely unrelated to reform. and you can always go outside the u.s., too, if you want. so i guess you're not moving to france if about obama wins. >> alec baldwin didn't move, i'm not moving. we say things when we're upset and then we don't really
Search Results 0 to 4 of about 5